HBOS rights issue?

[Jules]

Oh dear, i feel like i ought to understand what to do about this but I don't.

I have a small number of Halifax Bank of Scotland shares that I got for having a savings account there in the olden days when it was a building society.

I rather wish i had sold them when they were £11 a share or whatever they reached.

They are now doing this rights issue. I get the impression that means that there will be more shares and hence my pitifull holding will be worth less. I have the opportunity to but 78 rights for £214.50

I have a range of options from buying them to selling my rights to doing nothing . I think i readsomewhere else on T'interweb that the shares are selling for less than the discounted rights issue any how.

Does anyone undertand all this stuff and can explain what's best to do given that investing more money in HBOS is not something I want to do.

I am toying between option D "sell my rights" and option "no reply" where i will let my rights lapse and any proceeds in excess of 275 pence per share will be sent to me (This seems unlikely!)

BBC NEWS | Business | HBOS share price dealt new blow

it looks like todays price is £284 a share....

Anyone got any thoughts on this?

Jules

[Snash]

not an answer but this article was useful to me in terms of understanding rights issues and what options meant

Understanding Rights Issues

at least you get the option of selling your rights; under the Barclays placement I don't think that option is available

Snash